Valley City - Barnes County Development Corporatio

Nonprofit profile at a glance

EIN
363485273
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Valley City, ND, USA
Phone
7018451891
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,591,108
Expenses
$1,574,756
Assets
$6,149,594
Liabilities
$1,060,103

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • Matthew Pedersen (President)
  • David Beierle (Vice President)
  • Josh Kasowski (Past President)

Highest reported compensation

  • Jennifer Feist (Director of Development): $117,869 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote economic development in the City of Valley City and surrounding Barnes County area.

What it reported doing in 2024

Provided $228,202 ($182,561.60 City Funds and $45,640.40 Barnes County Funds) to extend a six-inch natural gas mainline to the south side of Interstate 94 at the underpass of 8th Avenue SE. The natural gas mainline is providing services to new and existing residential housing development south of 8th Avenue SE. The availability of natural gas on the south side of Interstate 94 will encourage additional future residential, commercial and light industrial development.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 95
  • Accountability: 84
  • Sustainability: 51
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.2%; rating input score 82
  • Program expense ratio: 82.7%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 3.91; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 82.2% of revenue deployed · 82.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $118K · 16 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.